From Longman Dictionary of Contemporary Englishpolicypol‧i‧cy /ˈpɒləsi $ ˈpɑː-/ ●●●S3W1AWL noun (plural policies)1[countable, uncountable]PLAN a way of doing something that has been officially agreed and chosen by a politicalparty, a business, or another organizationforeign/economic/public etc policya foreign policy adviserThe company has adopted a strict no-smoking policy.policy on/towardsgovernment policy on higher educationUS policy towards Chinait is (somebody’s) policy to do somethingIt is hospital policy to screen all mothers with certain risk factors.► see thesaurus at plan2[countable]BFI a contract with an insurance company, or an official written statement giving all the details of such a contractan insurance policyThere’s a clause in the policy that I’d like to discuss.I’ve just renewed the policy (=arranged for it to continue).Does the policy cover theft and fire?You can take out a policy (=buy one) for as little as $11.00 a month.3[countable]PLAN a particular principle that you believe in and that influences the way you behaveit is somebody’s policy to do somethingIt’s always been my policy not to gossip.COLLOCATIONS – Meaning 1: a way of doing something that has been officially agreed and chosen by a political party, a business, or another organizationADJECTIVES/NOUN + policygovernment/public/state policyGovernment spending is determined by government policy.party policyState ownership is party policy.company/hospital/university etc policyIt is not company policy to offer refunds.foreign policySupport for human rights is a key element in our foreign policy.economic/fiscal policyThe middle classes have suffered most as a result of government economic policies.defence/energy/housing etc policyOur energy policies must put the environment first.a deliberate policySome customers pursue a deliberate policy of delaying payment.a clear policyThere was no clear policy on this matter.a coherent policy (=one in which all the parts of the policy work well together)A long-term coherent policy for industry is needed.verbsformulate/develop a policyWe try to formulate policies that will meet the needs of the people.make policy (=decide what it will be)A committee of representatives makes policy.shape policy (=develop it or have an influence on it)These terrorist acts will not be allowed to shape our foreign policy.adopt a policy (=use one)He adopted a policy of radical reform.implement a policy (=take action in the way that has been decided)Local government is responsible for implementing central government policy.pursue/follow a policy (=continue with a policy over a period of time)The organization is pursuing a policy of cost cutting.reverse a policy (=stop a policy and change it)The new government set about reversing previous policies.a policy aims at something/to do something (=tries to achieve something)The policy aimed to reduce the budget deficit.policy + NOUNa policy decisionNo policy decision can be made until the next meeting.a policy statementThere has been no policy statement on this from the French government. a policy changeThere have been numerous policy changes in recent months.a policy issueHe rarely consulted him on general policy issues.a policy maker (=someone who decides on what it should be)Policy makers have not dealt with the issue very effectively.a policy objectiveHow can we best achieve our policy objectives?a policy initiative (=something done to achieve a policy's goals)The policy initiatives have focused on the inner cities.phrasesa change of/in policyThis decision represented a major change in policy.a shift in policy (=a small change)The shift in policy placed more emphasis on teachers' assessments of students' progress.a reversal of policy (=a change back to what it was before)The strength of this opposition forced a rapid reversal of policy.COLLOCATIONS – Meaning 2: a contract with an insurance company, or an official written statement giving all the details of such a contractNOUN + policyan insurance policyIs the damage covered by your insurance policy?a life policy/life insurance policy (=one that will pay out money if you die)New homeowners must usually buy a life policy before they can get a mortgage.a contents policy British English (=one that will pay out money if things in your home are damaged or stolen)Most basic contents policies cover accidents to mirrors.verbstake out/buy a policy (=arrange it)People with children should take out a life insurance policy.renew a policy (=buy it again, especially regularly)The policy must be renewed every year.a policy covers something (=will pay out money in relation to it)The policy does not cover dental bills.a policy pays out (=pays you money when you claim it)I thought my insurance policy would pay out.